The Global OTC Drugs Market is estimated to surpass USD 178 billion by 2024; according to a new research report by Global Market Insights. Expanding geriatric population base which is highly susceptible to suffer from several diseases such as joint pain will drive global Over-the-Counter (OTC) drugs demand over the forecast period. Growing healthcare awareness among people and cost-effectiveness associated with OTC drugs will further fuel industry growth.
Two of the larger markets within the overall OTC drug market are gastroesophageal reflux disease market expected to reach USD 4.34 billion by 2025 according to Grand View Research; and the global OTC analgesics market projected to register sales of nearly USD 20 billion in revenues by 2022-end according to Digital Journal.
One company has just announced big news regarding two drugs targeting these highly lucrative markets which they will be selling through their proven-to-be-effective sales platform.
Speaking of revenue, the company has started 2019 off on a good foot in that department announcing revenues of approximately $5.4 million for Q1, an increase of 18.0% compared to the prior year and 12.8% compared to the prior quarter. With annual 2019 net revenue projected to achieve record levels of $26-28 million INNV is in a good position.
INNV sells over 35 impressive products which you can view at their website. A few other notable drugs include Rogaine™ competitor Regoxidine™, a topical foam containing 5% minoxidil that is approved by the FDA as a hair regrowth treatment and is used to grow hair on the top of the scalp; as well as their first step into the rapidly growing CBD market hemp-derived Cannabidiol product MZS Sleeping Aid™.
Commenting on INNV’s 2019 performance, company President and Chief Executive Officer, Bassam Damaj said “We are encouraged by our start to the 2019 year with revenues increasing 18% and 12.8% in the comparable quarter in the prior year and the previous quarter, respectively. The Company has been able to strategically diversify its revenue channels during the quarter while continuously increasing its overall revenues and achieving revenues from e-commerce platforms by approximately 30%. Additionally, with twelve products now approved by Health Canada, we are poised to focus more marketing efforts in Canada where we have historically experienced superior returns which we believe will help us achieve our goal of profitability.”
INNV appears poised for continued growth, especially with their emerging revenues from targeted markets in Canada, United States, Asia and the European Union. INNV has tremendous upside potential and is extremely undervalued in our opinion. Start doing your research on INNV today before the street finds out about this incredible company!
This article was written by Regal Consulting, LLC (“Regal Consulting”). Regal Consulting has agreed to a three month term consulting agreement with INNV dated 5/20/19. The agreement calls for $20,000 per month, and 10,000 shares per month. All payments were made directly by Innovus Pharmaceuticals, Inc. to Regal Consulting, LLC. to provide investor relations services, of which this article is a part of. Regal Consulting also paid one hundred dollars cash to microcapspeculators.com to distribute this article. Regal Consulting may have a position in the securities mentioned in this article at the time of publication, and may increase or decrease its position without notice. This article is based on public information and the opinions of Regal Consulting. INNV was given an opportunity to edit this article. This article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any results predicted herein. Regal Consulting is not registered with any financial or securities regulatory authority, and does not provide or claim to provide investment advice.
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